Wedbush lowered the firm’s price target on Healthpeak Properties (DOC) to $24 from $27 and kept an Outperform rating on the shares. The firm sees Healthpeak as an extremely well-organized story around life science and medical office — a top-tier balance sheet that got there without massive help of the stock market. At around 13-turns forward AFFO, Wedbush sees the potential for long-term valuation upside, particularly as life science fundamentally improves. For now, it is taking its target down as a matter of conservatism in the immediate term.
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